Farther Finance Advisors LLC Purchases 7,773 Shares of Sony Group Co. (NYSE:SONY)

Farther Finance Advisors LLC increased its stake in Sony Group Co. (NYSE:SONY) by 190.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,844 shares of the company’s stock after purchasing an additional 7,773 shares during the period. Farther Finance Advisors LLC’s holdings in Sony Group were worth $251,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Y.D. More Investments Ltd increased its position in shares of Sony Group by 400.0% in the fourth quarter. Y.D. More Investments Ltd now owns 36,065 shares of the company’s stock worth $763,000 after purchasing an additional 28,852 shares during the period. Bfsg LLC bought a new position in shares of Sony Group in the fourth quarter worth $6,125,000. Fifth Third Bancorp increased its position in shares of Sony Group by 311.3% in the fourth quarter. Fifth Third Bancorp now owns 157,702 shares of the company’s stock worth $3,337,000 after purchasing an additional 119,362 shares during the period. West Family Investments Inc. increased its position in shares of Sony Group by 392.9% in the fourth quarter. West Family Investments Inc. now owns 26,725 shares of the company’s stock worth $566,000 after purchasing an additional 21,303 shares during the period. Finally, Mitchell & Pahl Private Wealth LLC increased its position in shares of Sony Group by 430.0% in the fourth quarter. Mitchell & Pahl Private Wealth LLC now owns 40,336 shares of the company’s stock worth $854,000 after purchasing an additional 32,725 shares during the period. Institutional investors own 14.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SONY. StockNews.com cut Sony Group from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Oppenheimer reaffirmed an “outperform” rating and issued a $33.00 price objective (up from $25.00) on shares of Sony Group in a research note on Thursday, February 20th. Finally, Sanford C. Bernstein initiated coverage on Sony Group in a research note on Thursday, January 16th. They issued an “outperform” rating on the stock. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $28.00.

Sony Group Stock Performance

NYSE:SONY opened at $24.56 on Wednesday. The stock’s 50-day simple moving average is $22.81 and its 200 day simple moving average is $18.51. The firm has a market capitalization of $148.55 billion, a PE ratio of 19.94, a price-to-earnings-growth ratio of 9.95 and a beta of 0.91. The company has a quick ratio of 0.49, a current ratio of 0.66 and a debt-to-equity ratio of 0.25. Sony Group Co. has a twelve month low of $15.02 and a twelve month high of $25.64.

Sony Group (NYSE:SONY) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.14. Sony Group had a return on equity of 14.10% and a net margin of 8.21%. The business had revenue of $28.95 billion for the quarter, compared to analyst estimates of $24.32 billion. On average, analysts anticipate that Sony Group Co. will post 1.23 EPS for the current fiscal year.

About Sony Group

Sony Group Corporation designs, develops, produces, and sells electronic equipment, instruments, and devices for the consumer, professional, and industrial markets in Japan, the United States, Europe, China, the Asia-Pacific, and internationally. The company distributes software titles and add-on content through digital networks; network services related to game, video, and music content; and home gaming consoles, packaged and game software, and peripheral devices.